UK house prices slow to three-year low as cost of living crisis drags down London and South East property market February 7, 2023 In London, house prices fell from £541k to £530k iin January, with annual house price inflation flat at 0.0 per cent compared to 2.9 per cent in December.
UK in the dark about real owners of £6.7bn worth of British properties February 7, 2023 The UK government is still in the dark about who owns tens of thousands of British properties, after thousands of offshore firms failed to comply with new transparency laws, which campaigners said exposes the UK property market to huge money-laundering risks. There are almost 52,000 properties in Britain, worth a combined sum of £6.7bn, that [...]
House prices are poised to slide in 2023 but straight into the hands of the lucky few February 7, 2023 There’s a pretty wild variety of house price predictions doing the rounds. Capital Economics have forecast they could fall 12 per cent, while experts at property search site Zoopla are a bit more optimistic. The consensus seems to be somewhere around a six per cent fall in 2023. One thing is certain: house prices are [...]
Bank of England aggressive rate hikes send chill through UK construction economy February 6, 2023 The Bank of England’s ten successive interest rate rises have sent a chill through the UK’s construction economy, a closely watched survey out today shows. Potential home buyers are shunning purchases due to mortgage rates flying higher, prompting house builders to rein in spending. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) [...]
Private investors gear up for £2.4bn London office spending spree February 2, 2023 Private investors and ultra-high net worth individuals are expected to snap up London office assets worth £2.4bn this year, a figure which has jumped by 60 per cent in the past 12 months. According to research published by real estate agency Knight Frank, the cash rich investment group is expected to be in a strong [...]
Tate Modern privacy ruling could see City restaurants and museums hit with more nuisance claims, lawyers warn February 1, 2023 City restaurants, museums and art galleries could be hit with more nuisance claims, lawyers have warned, after the Supreme Court ruled today that the Tate Museum’s viewing terrace intruded on the privacy of residents in a glass building right next to the gallery. Five residents of the Neo Bankside development on the South Bank took [...]
Natwest calls for stamp duty rebate to fund green home improvements February 1, 2023 The government should offer a rebate on stamp duty to fund energy efficiency plans for new homeowners, argues Natwest.
Flat owners win Supreme Court privacy case over Tate Modern viewing platform February 1, 2023 The owners of four flats overlooked by the Tate Modern in London have won a Supreme Court privacy bid over the use of the gallery’s viewing platform. Residents of the Neo Bankside development on the capital’s South Bank took legal action against the gallery’s board of trustees in a bid to stop “hundreds of thousands [...]
‘Fizz has left the market’: House prices fell by 0.6 per cent in January as average property value plummets February 1, 2023 The average UK house price fell by 0.6 per cent in January, according to Nationwide Building Society. Annual house price growth slowed to 1.1 per cent , from 2.8 per cent in December, and the typical property value is now 3.2 per cent lower than its August peak, the lender said. The average UK house [...]
A tumble in mortgage approvals could be followed by a fall in house prices, analysts believe January 31, 2023 Mortgage approvals have plummeted to their lowest since the credit crunch after the global financial crisis in 2008, excluding the pandemic when the housing market was shut down, in a sign house prices could fall sharply soon, according to official data. The number of loans to Brits to fund a home purchase dropped more than [...]